Cullen/Frost Bankers (NYSE:CFR) Price Target Lowered to $115.00 at Truist Financial

Cullen/Frost Bankers (NYSE:CFR) had its price target reduced by Truist Financial from $121.00 to $115.00 in a research report report published on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of Cullen/Frost Bankers from $125.00 to $118.00 and set a market perform rating on the stock in a research note on Friday, January 26th. UBS Group boosted their price target on shares of Cullen/Frost Bankers from $110.00 to $116.00 and gave the stock a neutral rating in a research note on Monday, January 29th. Jefferies Financial Group boosted their price target on shares of Cullen/Frost Bankers from $119.00 to $121.00 and gave the stock a hold rating in a research note on Monday, April 8th. DA Davidson restated a buy rating and set a $126.00 target price on shares of Cullen/Frost Bankers in a research report on Thursday, March 28th. Finally, Royal Bank of Canada restated a sector perform rating and set a $118.00 target price on shares of Cullen/Frost Bankers in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $117.46.

Cullen/Frost Bankers Stock Down 1.6 %

Shares of CFR stock opened at $105.38 on Monday. The stock has a market cap of $6.77 billion, a P/E ratio of 12.46, a PEG ratio of 1.33 and a beta of 1.04. Cullen/Frost Bankers has a 52 week low of $82.25 and a 52 week high of $120.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $109.11 and its two-hundred day simple moving average is $104.08.

Cullen/Frost Bankers (NYSE:CFR) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Cullen/Frost Bankers had a net margin of 20.57% and a return on equity of 18.31%. During the same period in the previous year, the company posted $2.70 EPS. Analysts predict that Cullen/Frost Bankers will post 8.46 EPS for the current fiscal year.

Cullen/Frost Bankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.68 annualized dividend and a yield of 3.49%. Cullen/Frost Bankers’s payout ratio is 43.50%.

Insider Activity at Cullen/Frost Bankers

In related news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Bracher sold 9,820 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $109.40, for a total transaction of $1,074,308.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $10,543,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bobby Berman sold 1,312 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $105.49, for a total transaction of $138,402.88. Following the transaction, the executive vice president now owns 27,815 shares in the company, valued at $2,934,204.35. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cullen/Frost Bankers

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in Cullen/Frost Bankers in the 3rd quarter worth about $27,000. ICA Group Wealth Management LLC bought a new position in Cullen/Frost Bankers in the 4th quarter worth about $33,000. Arvest Investments Inc. bought a new position in Cullen/Frost Bankers in the 4th quarter worth about $35,000. CWM LLC grew its stake in Cullen/Frost Bankers by 46.5% in the 1st quarter. CWM LLC now owns 334 shares of the bank’s stock worth $38,000 after acquiring an additional 106 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Cullen/Frost Bankers in the 4th quarter worth about $43,000. 86.90% of the stock is currently owned by institutional investors.

About Cullen/Frost Bankers

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.